Drive Shack closed all Drive Shack venues, to furlough nearly all hourly employees and managers [MarketWatch]
Drive Shack Inc. (DS)
Last drive shack inc. earnings: 11/11 10:45 pm
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ir.driveshack.com
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Source: MarketWatch
Drive Shack closed all Drive Shack venues, to furlough nearly all hourly employees and managers Drive Shack Inc. DS, +4.14% said Wednesday it has closed all of its Drive Shack golf entertainment venues and most o fits American Golf courses, as a result of the COVID-19 health crises. The company said it will furlough nearly all venue-level hourly employees and managers, and a "significant number" of corporate employees, with the expectation that they will be able to return when operations resume. The company's American Golf business will take similar actions. Drive Shack said a "vast majority" of its 4,500 employees in the U.S. earn an hourly wage. The company said it has also taken steps to "substantially" cut and defer costs related to marketing, game development and new site selection, and is reviewing its capital expenditure and development program. "While we cannot predict today how long this will last, we believe that the impacts to our business are temporary," said Chief Exec
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